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Marketing of Petro-Chemicals in a Global Economy - Term Paper Example
Author : jacobsbeverly
Pages 20 (5020 words)
Global Petro-Chemical Market Introduction: The Petro- Chemical Industry serves the energy needs of important global players. The research focuses on demand for petro-chemical products. The research includes marketing strategies to confront moves to solar energy, hydro, energy, wind energy, and geothermal energy, and other competing energy resources…
Food and water supply, transport, and mobility services require energy input. Fossil fuels are predominant in our current energy system, providing low-cost and reliable energy services. Renewable resources are used as well, especially hydropower and wind power, but also biomass resources in developing countries.” Consequently, the U.S. Department of Energy stated that a major percentage of its oil use is benefitted by the industrialized world. The petrochemical product needs are expected to occur in the transportation sector. The transportation sector has few economically competitive alternatives to oil as a source of major energy. In the developing world, the demand for petrochemical products, especially crude oil demand, forecasted to rise to unprecedented levels by all energy using sectors. The increasing need is apparent as emerging economies are rerouted from noncommercial fuels, which includes wood for home cooking and home heating, to diesel generators. In addition, Edinger (43) reiterated several academic researches indicate the global energy demand is forecasted to heighten significantly during the next decades to come. ...
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